FISCAL NOTE
FUND(S):
0150
Sources of Revenue:
General Fund
Legislation creates:
A New Program
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of this bill is provide for clean cresit reports and
identity theft protection. The cost of keeping the data base and doing the enforcement is expectected to run 247,250 dollars a year after the bill is implemented. The bill will require a one time charge for a data basr design and implementation of $30,000. The civil penalties are expected to be aroung 90.000 dollars.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2007
Increase/Decrease
(use"-") |
2008
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
71,209 |
247,250 |
247,250 |
| Personal Services |
41,209 |
247,250 |
247,250 |
| Current Expenses |
30,000 |
0 |
0 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
0 |
0 |
| 2. Estimated Total Revenues |
15,000 |
90,000 |
90,000 |
Explanation of above estimates (including long-range effect):
1 Attorney 70,0000.
1 Investigator 45,000
1 Secretary 35,000
1 Data Entry 35,000
Total 180,000
Fica 13,770
PEIA 34,080
Unemployment 500
CPRB 18,900
Total 67,250
Data Base Development 30,000
0
Memorandum
Revenue account would need to be established to deposit general revenue in.
Person submitting Fiscal Note: Jerome K. Clay
Email Address: joe.clay@wvago.gov